The administration has announced and revealed some policies to honor firms that will bring back jobs from abroad and invest in the United States, said by the President Barack Obama. At the same time, the president has assured to reduce tax breaks for corporations that will transfer jobs overseas.
The policies were expected to be released in the next few weeks as he submits his Annual Budget recommendation to Congress. President Barack Obama stated as he addressed leaders of the corporate world at the event on the insourcing assembly at the White House that in the upcoming weeks, they are going to release new tax proposals that honor firms that choose to bring back jobs and invest in America, also they will reduce tax breaks for firms that will transfer work overseas.
He does not want the United States to be a nation that is particularly known for financial theory and carry out debt on account of purchasing stuff from other regions, said by President Obama. He added that he wants the United States to be known for creating and manufacturing products all over the globe and marked up as Made in America, he assures that they will make that happen.
Obama refers to his meeting with the CEOs of United States firms that have started bringing back jobs to the United States, he said that they have heard of outsourcing, these companies are insourcing. He added that these firms are choosing to invest in one region that has the most creative employees, the best universities, and the most productive and cutting-edge entrepreneurs in the world and it is the United States of America.
He also said that this kind of commitment of the region that they need as of this moment when they are in the midst of a make or break moment for the middle type and those aspiring firms to settle in the middle class in the United States. All over the region, he said that he meets individual who grew up with faith that in the United States hard work paid off and responsibility was honored and everybody can make it if they tried it, no matter where you came from, how you begun and what you looked like.
The change was a bit painful, said Obama. Over the last few decades, acknowledging the bargain has eroded for many Americans as the economy has innovated quickly. Several factories where individual envisions that they would retire packed up and worked overseas. They live in a global economy and as other regions develop and evolve middle classes of their own , global firms are going to continue those markets and operate employees and create investments across the globe.
REFERENCES:
http://profit.ndtv.com/news/corporates/article-will-reward-companies-bringing-jobs-to-america-obama-295828
